Atlassian Co. PLC (NASDAQ:TEAM) has been given an average recommendation of “Buy” by the twenty-one ratings firms that are currently covering the firm, MarketBeat Ratings reports. Nine research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $140.47.
Several equities research analysts have recently issued reports on TEAM shares. William Blair restated a “buy” rating on shares of Atlassian in a report on Friday, September 13th. Cowen set a $152.00 price objective on Atlassian and gave the stock a “buy” rating in a report on Friday, July 26th. BMO Capital Markets increased their target price on Atlassian from $110.00 to $150.00 and gave the stock a “market perform” rating in a research report on Friday, July 26th. They noted that the move was a valuation call. TheStreet lowered Atlassian from a “c-” rating to a “d” rating in a research report on Thursday, July 25th. Finally, Jefferies Financial Group increased their target price on Atlassian from $105.00 to $125.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. They noted that the move was a valuation call.
A number of large investors have recently added to or reduced their stakes in the business. Baldwin Brothers Inc. MA purchased a new position in Atlassian in the third quarter valued at about $50,000. Redhawk Wealth Advisors Inc. raised its position in Atlassian by 5.6% in the third quarter. Redhawk Wealth Advisors Inc. now owns 4,389 shares of the technology company’s stock valued at $551,000 after purchasing an additional 231 shares during the period. Macquarie Group Ltd. raised its position in Atlassian by 72.4% in the second quarter. Macquarie Group Ltd. now owns 36,360 shares of the technology company’s stock valued at $4,757,000 after purchasing an additional 15,271 shares during the period. Treasurer of the State of North Carolina raised its position in Atlassian by 5.5% in the second quarter. Treasurer of the State of North Carolina now owns 44,038 shares of the technology company’s stock valued at $5,762,000 after purchasing an additional 2,310 shares during the period. Finally, NewSquare Capital LLC raised its position in Atlassian by 62.2% in the second quarter. NewSquare Capital LLC now owns 4,209 shares of the technology company’s stock valued at $551,000 after purchasing an additional 1,614 shares during the period. 87.20% of the stock is currently owned by institutional investors.
Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, July 25th. The technology company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.26. Atlassian had a negative return on equity of 2.45% and a negative net margin of 52.69%. The business had revenue of $334.59 million for the quarter, compared to analysts’ expectations of $330.60 million. During the same quarter last year, the firm earned $0.14 earnings per share. The business’s revenue was up 35.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Atlassian will post 0.09 EPS for the current year.
Atlassian Company Profile
Atlassian Corporation Plc, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. It provides project tracking, content creation and sharing, and service management products. The company's products include JIRA, a workflow management system that enables teams to plan, organize, track, and manage their work and projects; Confluence, a content collaboration platform that is used to create, share, organize, and discuss projects; and Trello, a Web-based project management application for capturing and adding structure to fluid, fast-forming work for teams.
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